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<br /> ----__. - p�ymenta, whtch are rntereed co in P�n�ph 2,or chanQo Ihe onawu of wch ps�ymenta. My exccsa proceedc over an
<br /> - - — _ .�-. _----�—..,_. asneuntrequlred to p�y,�II outaiu�dLtg ind� ebtodaeas under the Note and this Security Itmtrument ah�li bo pdd W the onliy►
<br /> � Is�slly�tittad 1heRto. .
<br /> �'.l4 8. Fea. Lender may collect fas and char�es authodxod by[he Sarctary. --�
<br /> ,�; q. Graunds tor Accekntion oi DeW.
<br /> (a)Defaul� Laider m�y.except As limited by regulrtions i�ued by tho Secretqry in�he care of p�ymau deftuLs.
<br /> �~___._ ___ roquire immediatepayment in full of all suma cecured by this Security Instniment if:
<br /> ;� � (i?Hartower dcfaul�x by failing to psy in full any nw��hly PaYment Rqui�ed by this 5ecurity Instrurixat pdor .., °
<br /> to or on tha duo date of tho next monihly payment,or
<br /> ' (il)Borrower det'aults by fuilin$,for a period of thirty days,to perform any other obli�atlons contained in this
<br /> --':a�'� Socurjty Insuument.
<br /> ---�.y s� (b)Sak WiWaN Credtt Approval. Lende�shall,if permitted by appllcable law and wi�h�he prior approval of the
<br /> � °:-s.- Sa�ewry ra�uire imtnediate pa�ment in full of all the sums secured by this Security Instrument if:
<br /> _r.,.�_.;� '.. (i)All or pazt of the Pmperty,or a beneficiel intercst in a nus�owning all or part of the Ponperty,is sold ur
<br /> --=-°��' otherwise transferred(other than by devise or descent)by �he Borrower.and --°-
<br /> -�-L�.-��: (ii)Tho Rroperty is not accupied by the purchaser or granteo as his u►her principal residence.or the purchase�
<br /> -�' "``{-�� or grAntee daes so occupy the Property but his or her credit has not been approved in accordance
<br /> =°."�°`':�::.;.� wflh the requitements of the Sec�etary.
<br /> - �,+�_,.,�,�a � (c)No N'aiver. If circumswnces acur that would permil Lender to require immediate payment in fWl,bot Lender
<br /> ,;��_„�A,�4._,, does not require suchpay ments.Lender does not waive its righis with respect ta subsequent events. __
<br /> _��;�•• � (d)lie�uladons of HUD Seeretary. In many circumstences reguladons issued by the Seccetary wUl limit Lender's
<br /> �----�—_�=� dghts. in the case of payment defaults, to rec�uire immediate payment in full and foreclose if not 'd. 'iliis
<br /> -�.- . _ _ — •.
<br /> -- �-�==`:co•�-' Security Instrument daes not authorize accelerauon or foreclosure if not permilted by regulations of the uiry. -
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<br /> �;�„-�-" ` (e)Mortgage Not lasured. Bomower agrees that should this Secudty Instrument and�he note secured Ihereby not
<br /> -"�"�"`�`����� be eligible for insurance under the National Housing Act within 8 mont hs ��
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<br /> �����°� dute hereof,Lender may.at i4c option ond notwithstanding nny�hing in ParagrAph 9, require immediate payment in ___
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<br /> - ,H full of all sums secured by this Securiry lnstrument. A written statement of any uuthoriud ngent of tbe Secre7uy �
<br /> -- �� dated subsequent to 8 mont hs from the date hereof,declining to insure this Security
<br /> -��.� fi.•..,.s.:
<br /> m�s� ,.� � Inslrument und�he nwe secured Ihereby,shall be deemed conclusive praoi of sueh ineligibility. Notwithstanding
<br /> --- �_ � ,��`•�:: `� the foregoing. �his option may not be exercised by l.ender when the unavailabiliry of insurance is solely due to
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<br /> �_b��r*.:t �� � Lender's failuce to remit u mortgage insurnnce premium�o�he Secretary. �:
<br /> =.�'�'+"`�'� d 10. Reinsiwtemen� Barower has u right to be reinstuted if l.ender hus required immediute payment in full because
<br /> - y •�i� � _-__
<br /> - of Bomower's failure to pay an umount due under the•Note or this Security Instrument. This nght npplies even aQer
<br /> -�.:�'-'s�:�•' foreclosure proceedings are instituted. 1b r+einRtute t he Security Instmment. Borrower shall tender in a lum p sum all
<br /> - '-''°�t�"��'" wnounts required ta bring Borrower's uccount current including, to the extent they are obl�gauons ot 8o�rower under ihis
<br /> .��W:;• �' �'" °. Securfty Instrument,foreclosure costs und reusonsble und rustomury adomeys'fees und expenses properly associated with
<br /> :;�� ' ��� the foreclosure proceeding. Upon reinstatement by Borrower,ihis Security Instn�ment und the obligations that it secures
<br /> :_�`* shall remain in effect ns if Lender had not rec�uired immediate pnymen�in full. However,Lender is not requi�d to Permit
<br />�;�;;,',; '�::�-�...�, •:�s reinstatement if: (i) Lender has uccepted reing�acement ufter�he commencemen[ of foreclosure praceedings withm �wo
<br /> • � yaars immediutely preceding �he cammencement of a cum:nt foreclosure prckeeding, (ii) reinstutement will preclude
<br /> ���'� •'� •-��fi 4 foreclosure on different graunds in the future,or(iii)reinstatemr.nt will udversely uffect the priority uF the lien creoted by
<br /> _ ..�,. _ ,. ` thisSecurity Insuument. �"'
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<br /> ,�c � ' .. 11. Borrower Not Released; Farbearance b Lender Not u Waiver. Extension uP the time of payment ar
<br /> `` ,•� �'��,. ' . modiGcation of amortizution of the xumx secureJ by thx Securit� Inscrument granted by l.ender to uny xuccessor in interest
<br /> ,.::„-� •• .� of Borrower shall not operute to r�eleuse the liubility of the arigmal Borrower or Bormwerti successor in interest. Lender
<br /> • . �. ,, :'• shall not 6e re4uired to commence proc��edings ugumst any successor in interest or refuse to extend time for puymen�or
<br /> • • �;� �.r,��. otherwise madify nmonization uf the sums .ecured by thix Seeurity Imtrumrnt by reuson of uny demand mude by Ihe ��'�
<br /> ,,�,�� original Borrower or Borrowerk successon in interest. Any fixhearance hy Lender in ezeRixing nny right or remedy shaU
<br /> - ..,,�. �' not be a waiver of ur prerludc thc cxcrcise of uny right or remedy. e^:-
<br /> • � 12. Successas and Asglgns Bound;Julnt and Several l.iubllily; Co-Signers. The cmenunts und agreementx uf �;;,
<br /> _ � �� - , this Securiry Instrument shull bind and benefit the succeswrs und assigns of Lender und Boirowrr,subject to tlx provi�ions w�.-
<br /> -°� � of Pnrag�ph 9.b. Borrower's covenunts und agreements zhall lx j�►int wiJ sever�l. Any Borrower who casigns �his
<br />.';�;�,+ •'��� Security Instrument but doe,not execute the Note; 1u)is co-signing this Security In,trument only to mongage,gront and
<br /> �'t� ' - " convey that Borrower's interest in the Pro�rty under�he tertm of thix Security Instrumrnr.(b1 ix not personully obligated to �,-
<br /> ";��" pny the sums secured by thi.Securi�y Insuument; anJ tct agn�es that Lender smd;urv other Borrower muy ogme to extend,
<br /> . � madify,forbear or muke uny accommaiations with rcgurd to the tertns of this Secunty Inxtrument or the Note withaut Ihut �
<br /> -�� Borrower's consent.
<br /> :j�.4. -•� ` 13. Nodees. Any notice to Borrower pruvitled far in this Securiry In,trumrnt shull be given by delivering it orby —_
<br /> ., ;ti' � � •- mailing it by first clASS muil unle�s uppliruble luw reyuirrs uu oi :mother mclhud. Thc notice xhull be dircrted to�hc -
<br /> �:� ° Property Addte.r•s or uny other udJresti Bnrrower designutcx by notirr w L.endcr. Any notice to Lendcr shall bc given by
<br /> '�+ first cla+s mail to Lenderti aJdnss stuted hrrcin ur any siJdmsti Lender iksignatr. by nu�icr w Burtow�r. Any nolice
<br /> � �ruvided fcx in this Security Instrument xhull Ix�Jeemc�tu havc hcen Fiven ta Horrowcr ur LcnJrr when givrn us proviiied _
<br /> ' ° m this parugruph.
<br /> „ . b 14. GoverninR Lew: Se�•erability. Thi.5crurity In.trumcm �Iwll tx �,ovcrnrd by I�cJcrul luw unJ the law of thc
<br /> ° .. ° jurisdiclion in which the Property i+lixaled. In Ihr rvem ihat:�n} pru�•i�ion ur clau.r uf thi+ Srcurity Instrument or the .
<br /> • - Note conflict�with ap�lieuble law,such rontlirt �hall nut uftcrt udirr pnwi�ium uf thi.Srcuritp Imtrument or the Nutc
<br />, � ° which c�►n he givcn rttect without tlk ccmtlirUng provi,iun. 'fi�ehi+�nd thr priwi.iom of'thi.tirrurily Intilrument and the
<br /> - . Nute urc dcclured lu tx�everabl�.. •",
<br /> ,1 I5. �urrower's Copy. Hurro���er.hall tx gi��en une confnn ned cupy ul thi,Serurity In,lrumrnt. �
<br /> ' � ° 16. As.�isnment of Rents. Barrow•rr uncondi�ionally a..iEn..uiJ�ran+lrr w Lrnikr:dl�hr ren�.auJ revenur.��I'Ih� k
<br /> . property. Burtow•er au�huriir.I.rnJer ur l.endcr�agrnt,���rullerl ihr Rnt+anJ rrvenue.anJ hercbv dirrrh ra�h tcn:tnt��t' t '
<br /> • the Prop�:rly to pay thr r�nls to LenJ�r ur Lendrr�a�:rnh. I ln►1 e�rr.priur lu Lendrr:no�icc to HoiTUwcr uf Bum►wer:
<br /> ,�- brench of any covenant or agnrmrnl in thr Srcurity In��rumrn�.R�,rrc,wr�,h�dl rul Irci anJ rrcrrvc all rent.anJ rcvrnu��ot'
<br /> the Propeny u.truslre fnr Uic hcnetit of Lrndrr anJ B��rrrn�•rr. I'hi.:�..i�nment ut�rrntr run.tilut�.un ah.ulute a�signrncnt �
<br /> �-•••� :md nat un u+sicnmcnt for uJdiliunal ucurity unly. �
<br /> _ .-. If LcnJcr�ivcs nolicc of hrrarh tu Horruwcr: I:u all rcnh rrccivcJ b� B��m��vrr.hall be hrld 1,� B��m���rr a,lru�lr�
<br /> for benctil uf Lrndcr only.to Ix:�rri��a��� thc ,wn, .ccurcd h���hr ticrum� h�,trumrm: Ihl Lrndrr.h:dl tx rnud�J tu
<br /> ce�llect ond receive all of thr rcnt,of�hr 1'ra�xrty: and l:l rach t�icint ut 1hr I'raprrly •hall pa� ull rrnt��fiK and unp:sid tu
<br /> " • „ Lrnder or Lender+a�em un LrnJrr;writ�rn dcmunJ a,thc trnant.
<br /> ' Borrowcr ha+not rxecutrJ uny prwr a.+iEnnunt of thr n nt, and ha�m�I:md �ti dl nut E�rrti�mi an}�act Ihal wix�ld ,
<br /> ' . „ prcvent Lendcr t�•iim rzcrci�inE iu ri�:hl�undcr thi�P.iru�r;iph Ih.
<br /> ' I.cnder tihull not tk rcyuired tu cntrr uFx,n. �al�r cantrul ut" ur rnaintam Il�c 1'�u�xm• Fxlum ur ;dhr givinE nuti�•r uf
<br /> breach w Burrowcr. Howrver. I.endcr or a judiri:dh :ippuirnc�l rcrci�rr ma� J�� ,u at am iinu then i�u hrcarh. .\ny
<br /> ' applicu�iun of mnl..hall nut curc ur��airc an)Jrl:iult ur i�nahd:uc an) ��U�rr iiFhl ur r.mrd� ��t Lrndrr. fl�i,a,.ign�nc�it
<br /> . •:..� of rents ot'Ihr Properly�hull tem�inutr whrn the Jeh�.rrur�J hc thc S.�uruy In.tnunrn�i.paiil in(ull.
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